How I Got Instant Loan from GTBank Quick Credit

I remember when I wanted to pay my office rent a few years ago, I wasn’t financial buoyant and I decided to approach two of the commercial banks that I have accounts with and I must confess that the whole experience was frustrating.

Generally, as an SME or self-employed, to get loans from the commercial banks in Nigeria is pretty difficult as you will be asked to present documents and collaterals beyond your reach. I have tried accessing loans for my business in the past and I know how frustrating the whole process and requirements can be.

Sometimes you don’t blame the banks as many SMEs do not position themselves well before approaching banks for a loan.

Many bank customers do not know how to build a relationship with their banks and many do not have a good credit history. Credit history is very important if you are looking forward to accessing loans from the banks. This article, Your Credit History: What You Should Know shed more light on this topic and I enjoin you to read about it and try to work on your credit history.

In the past, it was very difficult for SMEs to get bank loans without collateral. In recent time, I have seen banks come up with products to support SMEs and salary earners without asking for any collateral in any form. One of such products from a commercial bank is GTB Quick Credit.

There are numerous products and apps from both commercial banks and non-commercial banks alike that you can get a small business loan or instant loan and this article here highlights the major ones: Top Lending Platforms to Get a Quick Loan Within 10Mins to 24hrs Without a Collateral

I used to see GTB adverts on Quick Credit everywhere I go and I tried to access it once and it was no! So I never bothered going back to initiate the process again because I believe it was for salary earners.

On the 14 of August, I logged in to my GTWorld app to initiate a transfer, lo and behold, a message popup that I’m pre-qualified for a loan of N75,000. That I should press yes to accept or no to reject and out of curiosity, I pressed yes.

The app took me to another page where I was shown the total loan amount, interest and the loan tenor which is 6 months. I pressed accept and immediately, my account was credited with N75,000 loan with a repayment plan of 6 months.

It was surprising and the words that came out of my mouth were “so this thing works”. I didn’t have the intention of borrowing from them, but now I understand the importance of building a relationship with your bank and also building my credit history, I was happy to get the loan from GTB and I immediately transferred the money to my Facebook and Google ads accounts so as to make more money in order to pay back the loan.

From the loan repayment schedule that GTBank sent to me, I will be pay between N12,697.75 – N13,276.70 every month for 6 months starting August 31. My repayment due date is every last day of the month.

I have seen people that have received N150,000 and N500,000 as self-employed. A salary account holder with GTbank can get up to N5 million depending on how much they earn every month.

So what is GTB Quick Credit:
GTB Quick Credit is a time loan available to salary and non-salary account holders with the bank. It’s an instant loan without collateral and you can get up to N5million as a salary account holder and up to N1million for a non-salary account holder.

What is the interest rate:
The interest rate of 1.75% monthly. That means for a loan that will last for 6 months you will pay 10.5 % and a loan that will last for 12 months you will pay 21%.

Loan Tenor:
The payback period is between 6 months to 12 months.

How to Apply for GTB Quick Credit:
Do you have an account with GTbank and are you interested in getting a quick credit?
There are two ways you can apply for quick credit.
1) The first method to apply is by using a USSD. You need to dial *737*51*51# to request for Quick Credit instantly.
2) The second method is making your Quick Credit request using GTBank online and mobile banking platforms (Internet Banking, GTWorld, GTBank Mobile App and Habari App)

Have you tried using GTB Quick Credit and what was the experience like?

Kindly share your experience with us using the comment box below.

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  1. I got a loan of 750,000 early this month 9August) at 1.75% IR. had been seeing the popup for sometime whenever I logged into my GT World app. The maximum loan-able amount the app showed me was 1,100,000. I don”t know how they came about this amount, but all I know it that I wanted to give it a try and I did. I expected to get a call from the bank in the morning to submit some forms or to get employers details etc. However, in less than 5 mins, (5am to 5:10am), I received a credit alert of 750,000. My account balance was around 5,000 before this.
    So it was not a function of the amount in the account or transaction cause it’s my salary account.

    • Wow! Thank Olukunbi for sharing your experience. That is a lot of money and it will help you solve a lot.
      This should encourage in dare need of urgent money to take advantage.

    • I was also privileged to be part of this opportunity,I got mine early this month through my Gtworld app.The issue now is how to pay back my loan.i nwed help on this.because I don’t want to default for subsequent dealings.urgent reply plsssss.Thanks.

  2. Enter your comment here…it a lie joor I tried it and ask me to open another account which they did,and I called their customer care line to ask while I can’t be granted the quick loan and the next thing I was told that am not able to get it,after banking and having a good history with them for over 10yrs now so they are frued they know the pple they are giving is just cover up if not that I just like banking with them I will close my account with them and go to union bank is not like that with them.fuck GTB

    • It’s not a lie. I shared my experiences in that article. Getting a loan from a bank depends on so many factors especially your creditworthiness. If you don’t have a good credit score, you will be denied even if you have been banking with GTB or any other bank for a long time.

      Your inflow and outflow also play an important role. Another factor is whether you are using a savings account or current account to apply. A current account is preferable.

  3. Dear Etim,
    After reading this article I tried the Gtb bank quick credit loan and it was declined cos I don’t have a salary account. And your article said both for salary earners and sme. Please if you know Gtbank is not ready for granting loans to there customer no need of packaging it here for us. I tried it again now and it’s not working yet. I have banked with Gtb since 2010 as my major bank yet am can still deny me a soft loan. I spoke with my account Officer about and he promised they will do something. If ordinary app on Google play can grant me soft loan them am ashamed of GTB being my main bank.

    • I am not a salary earner but self-employed. I have a current and savings account with them and it was the current account that the app decided to give automatically. I have tried using my corporate account and the app denied it and not once, but severally.

      The GTB Quick Loan uses a lot of factors to determine whether to grant or deny.

      Your credit score plays an important factor in getting loan.

  4. kudos to GTB for the wonderful services rendered to their customers. I just dialled*737*51*51# I got N70,000 instantly as loan to pay within 12th months

  5. I tried the instant loan request and it was denied me because I don`t have a salary account with them.
    I think its for only salary earners or very high turnover individual account operators.

    • It’s not for only a salary account holder. Even you have a salary account with them but your company isn’t reputable or your salaries aren’t regular, they might still deny you. A lot of factors are used to determine that.

      I don’t have a salary account with them. What I have is a current and a saving account but I was able to access the fund with my current account, the bank can easily charge overdraft even if I don’t have enough fund to repay my loan at the due the date and leave my account with a negative balance
      The same thing is not possible with saving accounts.

  6. I just want to open a gt bank account. Is it possible I am granted a loan or do I need to have banked with them for a number of years to be granted a loan

  7. I already have an account with gtb but when I dial the cold was telling me to open an account with gtb

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